Climate Changed
Buffett-Backed BYD Forms Venture to Lease Electric Buses
- BYD, Generate Capital target mass transit systems for leasing
- Similar program sped adoption of rooftop solar panels in U.S.
BYD electric buses at a public transportation hub in Shenzhen, China.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
BYD Co., one of the world’s largest suppliers of electric vehicles, has formed a joint venture with a San Francisco investor that will lease its buses to cities, schools and corporations in the U.S.
The Warren Buffett-backed Chinese manufacturer is partnering with Generate Capital to establish a program that they’re describing as the first of its kind. As part of the venture, Generate is investing $200 million to buy and lease the buses. BYD will supply the vehicles and market them to customers.